Budget focuses on best possible management of resources

ISLAMABAD: Federal Minister for Finance Dr. Abdul Hafeez Shaikh on Saturday said the budgetary measures taken for the upcoming fiscal year are aimed at bringing economic stability with best possible management and mobilization of resources.

Addressing a post budget press conference on proposed budget for 2011-12, the minister said government tried its best to cut expenditures wherever possible, however added that there were certain expenditures including defence and debt servicing which are essential and cannot be curtailed.

He said that shifting the share of 57.5 pc resources to provinces have also put burden on the federal budget as the Federal share remained just 42.2 pc.

The Minister was flanked by Deputy Chairman of Planning Commission Dr. Nadeem ul Haq, Secretary Finance, Waqar Masood, Chairman of Federal Board of Revenue, Salman Saddique and other senior officials of the ministry.

He said that the government has not only freezed its expenditures but reduced them to a considerable level to check fiscal deficit adding that even new recruitments were stopped so that the size of the government does not expand.

Copyright APP (Associated Press of Pakistan), 2011